Thursday, July 12, 2007

...if only after the manner of the charming mainstream orthodox economist (or member of New Zealand's treasury, for that matter) who, when asked whether she believed in welfare enhancing state interventions, said, "I do not; but they are there anyway".

[Update: which is unfair on mainstream orthodox economists, almost all who would admit to the welfare enhancements of some government interventions, but presumably it was them who was asking those questions of Card's graduates].